Few words trigger more tension in a family business than “owner buyout.” The horror stories are numerous—relationships frayed, loyalties tested, lines drawn. What keeps an owner buyout from becoming a full-blown family drama? It all starts with having the right mindset.
Family businesses with a culture that allows an owner to exit without criticism are more likely to have a drama-free transition. Providing an exit ensures the business’s operations will not be interrupted.
What comes next is even more important. You can read about it in this article. Be sure to read until the end. There’s a list of questions to consider when creating a process for an owner buyout.
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